Many credit cards use sign-on bonuses and various rewards to lure and keep cardholders. Some of these incentives can be lucrative. Paying mortgage payments with credit cards can be a quick way to earn those rewards. But there are difficulties to this process, and research is necessary.

Since most mortgage companies do not accept credit cards as a form of payment, some work will be required to get around this. Once you find a workaround, weigh the pros and cons. Does the bonus or reward being earned outweigh all the extra costs to make that payment with a credit card? Is the extra time and effort to find alternatives worth the bonus or reward earned?

One option worth looking into is a payment system that will allow mortgage payments to be paid by credit card. A system called Plastiq is available, and they charge a fee of 2.85% per transaction. Plastiq accepts the credit card payment and mails the mortgage company a check. Check their terms to verify which credit cards Plastiq works with. A payment system is a good option because it is easy; you can do it online. The fee is straightforward as well. However, there is the need to allow for mailing time.

Some mortgage companies may accept pre-paid cards for payment. If the mortgage company agrees with this payment type, purchase a pre-paid credit card and use it toward the mortgage payment. It is critical to know how much will be paid in fees toward the purchase of the pre-paid credit card and if the mortgage company accepts this and charges any fees to take it.

Another possibility is to purchase a money order with a credit card. Not all credit card companies or stores will do this, so again, research this option. There are fees associated with the purchase of money orders. This option also requires driving to the mortgage lender to drop off the payment or mailing time.

Each possibility can come with its own set of fees and negatives. Ensure that the proper research is done with each of these choices. You want the reward or bonus to outweigh the fees and extra costs of jumping through all those hoops. As with any credit card debt, it is ideal to pay it off monthly.